Global Oil & Gas Tax Newsletter

Views from around the world - July 2017 issue

Highlighting tax developments of current interest to companies operating in the oil and gas industry, whether upstream or downstream, and businesses in the oilfield services, engineering and construction industries.

Explore Content

In this November 2017 version, we focus on two specific areas affecting the oil and gas industry: implications of BEPS action 7, which addresses permanent establishments for the industry; and taxation of offshore indirect transfers of assets. This newsletter also explores strategies for oil and gas companies to drive value through oil and rotator programs.

Additionally, we unpack oil and gas tax developments in the following countries:

Gulf Cooperation Council (GCC): Differing approaches to taxation across the Gulf

Francophone Africa: Revision of SYSCOHADA accounting rules and the implications for extractive companies in Africa

Indonesia: Update on the cost recovery regime and the introduction of the gross split regime in the upstream industry

South Africa: Reminder of the scope of withholding tax rules applicable to industry participants in South Africa

In the July 2017 edition, we continue to focus on two topics with important implications for the taxation of the oil and gas industry—the potential impact of the base erosion and profit shifting (BEPS) actions and the changes in the fiscal environment reflecting the reaction of governments to lower oil prices.

In this edition we unpack the oil and gas tax developments in the following countries:

In this April 2017 edition, we unpack a range of topics including the potential applications of blockchain—a new digital technology that is gaining momentum and could have significant tax implications on the oil and gas industry. We highlight the possible consequences of the multilateral instrument under the OECD BEPS project and explain the basics of production sharing agreements.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

The Netherlands: Demise of the Dutch cooperative as a holding company?

Gulf Corporation Council: Introduction of VAT in the Gulf States—considerations for the oil and gas industry

In the December 2016 edition of our Global oil & gas tax newsletter, the final edition for 2016, we continue our in-depth examination of the base erosion and profit shifting (BEPS) initiative with analysis of the Organization for Economic Development’s (OECD) proposals on hybrids, including discussion of the UK’s legislation which will be effective from 1 January 2017 and is the first to be implemented addressing the proposals.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

Brazil: tax deductions for RD&I expenditure

Gabon: an overview of the new hydrocarbon regime

Malaysia: application of indirect tax to transfers of oil and gas projects in Malaysia

In this September 2016 edition, we unpack some of the potential implications of Brexit on the oil and gas industry. We also take a look at the impact that the OECD BEPS project may have on the oil and gas industry in developing countries, with an overview of the key findings and recommendations of the OECD report and its implications.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

In our June 2016 edition, we continue the theme of our last edition, taking a look the impact that the OECD BEPS project may have on the oil and gas sector, with an overview of the progress of the initiative to date and an article focusing on action 4. We also take a look at the steps being taken by two significant hydrocarbon producer countries (Iran and Mexico) to promote investment in their upstream industries.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

Nigerian Petroleum Industry Bill: Is the challenge of legislative passage now resolved?

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see About Deloitte for a detailed description of DTTL and its member firms.